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Credit Union Loan

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Comments

  • #32
    GrumpyMe
    Registered Users, Registered Users 2 Posts: 1,195 ✭✭✭GrumpyMe


    texas star wrote: »
    I went for a small loan recently way under whats in my shares and no other loan out and never missed a payment.I didn't like all the intrusive questions.It irritated me so much I just took the money out of my out of my shares which CU always advised not to do.Credit union are not the same as they used to be.


    That's for sure!


  • #33
    Spocker
    Moderators Posts: 6,864 ✭✭✭Spocker


    Much of it down to the regulation from the Central Bank, rather than a shift in how the Credit Union movement wants to present itself


  • #34
    Abbey127
    Banned (with Prison Access) Posts: 127 ✭✭Abbey127


    Hi is it better to pay back a creidt union loan weekly or monthly. Also if I pay it off quicker does that help my credit rate .


  • #35
    Spocker
    Moderators Posts: 6,864 ✭✭✭Spocker


    Abbey127 wrote: »
    Hi is it better to pay back a creidt union loan weekly or monthly. Also if I pay it off quicker does that help my credit rate .

    It doesn't really matter, you should make payments on a schedule that suits you, likely matching your wages frequency. Yes, it can help your rating if you pay it back early and Credit Unions don't charge extra for that (paying back early)


  • #36
    GrumpyMe
    Registered Users, Registered Users 2 Posts: 1,195 ✭✭✭GrumpyMe


    Spocker wrote: »
    ... and Credit Unions don't charge extra for that (paying back early)...


    As a matter of fact they charge you less. Interest is based on your outstanding balance at any point in time. Lower balance - less interest due.


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